It’s been two hours since the pump, and the price still hasn’t pulled back. How many times have you seen this kind of move turn out to be a fake breakout? $PIEVERSE I’m leaning bullish.
First, volume: During the hour from 12 p.m. to 1 p.m., trading volume was 4.1 million U. For the previous ten or so hours, it had been around 300,000 per hour—that’s more than a tenfold jump. The price surged from 1.48 to 1.6509. After the pump, the candles at 1 p.m. and 2 p.m. both moved sideways between 1.58 and 1.62, without giving back the gains.
Next, open interest: At 12 p.m., open interest was 11.64 million contracts. By 2 p.m., it had risen to 12.32 million, while its value increased from 17.21 million U to 19.76 million U. The price is moving sideways while open interest continues to climb, suggesting that people are still opening positions at this level rather than selling off after the pump.
Retail traders aren’t getting particularly excited: The share of accounts going long is 52.6%, slightly lower than the 53.8% at 11 a.m. The large-trader long/short ratio is 1.61, so big players are more firmly bullish than retail traders. The funding rate is around +0.017%, nowhere near overheated.
My thinking is simple: 1.5756 was today’s pullback low. I’m out if it breaks below that; if it holds, I’m watching the previous high at 1.6509. If price breaks above that, this move is only just getting started.
Do you think this consolidation near the highs means the whales are accumulating, or looking for a chance to unload? If you’re holding a position, share your entry price.
#PIEVERSE #山寨币 #FuturesData
First, volume: During the hour from 12 p.m. to 1 p.m., trading volume was 4.1 million U. For the previous ten or so hours, it had been around 300,000 per hour—that’s more than a tenfold jump. The price surged from 1.48 to 1.6509. After the pump, the candles at 1 p.m. and 2 p.m. both moved sideways between 1.58 and 1.62, without giving back the gains.
Next, open interest: At 12 p.m., open interest was 11.64 million contracts. By 2 p.m., it had risen to 12.32 million, while its value increased from 17.21 million U to 19.76 million U. The price is moving sideways while open interest continues to climb, suggesting that people are still opening positions at this level rather than selling off after the pump.
Retail traders aren’t getting particularly excited: The share of accounts going long is 52.6%, slightly lower than the 53.8% at 11 a.m. The large-trader long/short ratio is 1.61, so big players are more firmly bullish than retail traders. The funding rate is around +0.017%, nowhere near overheated.
My thinking is simple: 1.5756 was today’s pullback low. I’m out if it breaks below that; if it holds, I’m watching the previous high at 1.6509. If price breaks above that, this move is only just getting started.
Do you think this consolidation near the highs means the whales are accumulating, or looking for a chance to unload? If you’re holding a position, share your entry price.
#PIEVERSE #山寨币 #FuturesData
